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Nervous/anxious/scared about the Autumn budget 2024

683 replies

Cartwrightandson · 26/10/2024 19:29

I know that we don't know any details. We have read or heard bits that might be incorrect or just plain wrong. I also know we won't know anything until Wednesday when Rachel Reeves publishes/announces the contents of the budget...

But what we do know...it's the first labour budget for over 14 years, we've had a conservative government, austerity, brexit, covid and cost of living/interest rate increase meaning our economy is not in a good place.

Our services/infrastructure haven't had much needed investment for a long time.
Councils are practically bankrupt, some already are. Schools, housing, NHS, social care and economy are all struggling..to remedy this requires money and this will need to come from higher taxes.

There's a 19 billion pound black hole and Labour have already removed the winter fuel allowance, showing they are willing do things that are unpopular or possibly controversial..the Labour manifesto said it wouldn't increase taxes, but now they are saying they have to.

They've already allocated money for Ukraine, teachers, train drivers, junior doctors, NHS staff ect

Keir said people who don't 'work' for their income (shares/savings/landlord income) aren't classed as working people and will be taxed..

Basically this budget is going to need to raise taxes to pay for investment in services. That much we do know. But where the cuts and the tax increase will be is unknown. I don't think anyone will be 'better off'...

Possibilities.. (note these are not absolute, I could be very wrong)

Inheritance tax changes
Fuel duty increase
Income tax increase
Social housing rent increase
Benefit cuts
No free universal prescription for over 60s
Change to tax free allowance
Removal of help to buy, right to buy and alterations to stamp duty
Pension age to increase
State pension to decrease?
Tuition fees to increase
Tax free pension allowance to be reduced
Isa/bond/shares/investments taxed

Who really knows...but I think the labour comms are possibly leaking information so that we are being drip fed so when the budget does happen we already know and are braced/prepared for it.

Or what is being leaked about the budget is really bad but when the budget happens we are relieved it wasn't as bad the leaks hinted at. But it is still painful but we are more accepting because it's not as bad as it could have been...if that makes sense.

OP posts:
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Smoothopera · 28/10/2024 18:41

EasternStandard · 28/10/2024 18:40

Ah yes that fits. A pre GE lie but it's ok, are you getting pay rises or tax rises?

The irony.

EasternStandard · 28/10/2024 18:40

Smoothopera · 28/10/2024 18:39

Yawn.

Ah yes that fits. A pre GE lie but it's ok, are you getting pay rises or tax rises?

Smoothopera · 28/10/2024 18:39

TheNoonBell · 28/10/2024 18:35

The payrises cost £9.4 billion. That was just the raises, then add a big lump later down the line for the extra pension payments on already very generous pensions.

There is also talk of the public sector being exempt from the NI increase on employers pension contributions.

The public sector pension deficit is currently around £2.6 trillion. Yes trillion, that's 2,600 billion pounds. Guess who will have to pay it.

Yup Trump supporter. 😂

Singinginthespring · 28/10/2024 18:39

TheNoonBell · 28/10/2024 18:35

The payrises cost £9.4 billion. That was just the raises, then add a big lump later down the line for the extra pension payments on already very generous pensions.

There is also talk of the public sector being exempt from the NI increase on employers pension contributions.

The public sector pension deficit is currently around £2.6 trillion. Yes trillion, that's 2,600 billion pounds. Guess who will have to pay it.

Public sector pay rises cost 3 x what the entire asylum and immigration bill is. I mean the immigration bill is not ideal, but it’s not what’s crippling the country.

Smoothopera · 28/10/2024 18:39

EasternStandard · 28/10/2024 18:38

Did you also talk about 'fully funded, fully costed' as Labour did pre GE?

Yawn.

Smoothopera · 28/10/2024 18:38

StarDolphins · 28/10/2024 18:34

Yes I am absolutely serious, why else would I have said it?

You know when you have a gut feeling? I have one & I absolutely doubt LP will improve things. Infact, I am sure that in a year, things will be worse or at the very least, the same.

Still nothing about how he proposes to start fixing NHS.

You were a noisy Tory supporter on the pre election threads. Of course you have your doubts. How would you know what their plans were if you read no further than the daily mail ?

EasternStandard · 28/10/2024 18:38

MasterBeth · 28/10/2024 18:37

You are talking unmitigated horseshit.

The Tories blamed Labour at THIS LAST ELECTION.

Labour's pay rises for nurses, railway workers and doctors have stopped the strikes and will lift the productivity of our economy. (It's not billions).

The budget will unlock investment in housing, energy and infrastructure that our country is crying out for.

Did you also talk about 'fully funded, fully costed' as Labour did pre GE?

MasterBeth · 28/10/2024 18:37

Dragonflysparkles · 28/10/2024 17:50

Oh right, ok keep blaming the tories as they did it at an election years ago

Labour has black hole as in the first six weeks they spent billions on pay rises we couldn’t afford. And now we all have to pay for it. It’s not the tories, we all know the economy was righting itself. Interest rates dropping, but they fucked it. We all watched, watched labour spend spend spend and cow tow to the unions again and now they are scrabbling about looking to tax everyone.

and it’s going to be a shit show for the next four years. If you think for one moment you’re going to see marked improvements for the money, you are sadly mistaken,

You are talking unmitigated horseshit.

The Tories blamed Labour at THIS LAST ELECTION.

Labour's pay rises for nurses, railway workers and doctors have stopped the strikes and will lift the productivity of our economy. (It's not billions).

The budget will unlock investment in housing, energy and infrastructure that our country is crying out for.

TheNoonBell · 28/10/2024 18:35

AquaPeer · 28/10/2024 17:52

Labour has black hole as in the first six weeks they spent billions on pay rises we couldn’t afford

you don’t really believe this surely? Are you having us on?

The payrises cost £9.4 billion. That was just the raises, then add a big lump later down the line for the extra pension payments on already very generous pensions.

There is also talk of the public sector being exempt from the NI increase on employers pension contributions.

The public sector pension deficit is currently around £2.6 trillion. Yes trillion, that's 2,600 billion pounds. Guess who will have to pay it.

Spendingtoomuchonfood · 28/10/2024 18:35

Cartwrightandson · 26/10/2024 19:45

From what I've heard, social housing rents might be means tested and households with higher income might pay more. I could be wrong, 🤔 😔

Sounds sensible.

MillyMollyMandHey · 28/10/2024 18:35

This thread just sums up the naivety of the tAx tHe RiCh crew.

Not a clue.

EasternStandard · 28/10/2024 18:35

cardibach · 28/10/2024 18:33

I don’t think you mean illegal immigration. Illegal immigrants don’t tend to cost anything as they don’t get anything at all - they’re illegal so can’t come in contact with the authorities in any way.
I suspect you mean asylum seekers - they are costing so much because the Tories basically stopped assessing claims so the numbers built up, in hotels being paid for by us because state facilities were full. Maybe think about who that might have benefitted (clue: it’s not the asylum seekers).

They must be costing a lot due to the higher numbers crossing the channel?

Not to mention the increased deaths due to riskier passage

StarDolphins · 28/10/2024 18:34

Smoothopera · 28/10/2024 18:29

Tories had 14 years. Labour 4 months or so. You’re not serious are you ? Any fool knows the absolute mess they left us in will take longer than a few months to remedy.

Edited

Yes I am absolutely serious, why else would I have said it?

You know when you have a gut feeling? I have one & I absolutely doubt LP will improve things. Infact, I am sure that in a year, things will be worse or at the very least, the same.

Still nothing about how he proposes to start fixing NHS.

Julen7 · 28/10/2024 18:34

Itsmyopinion · 28/10/2024 18:20

What are labour doing about illegal immigration - this is costing the tax payer millions per day. For me this is why the country is on its knee’s. I’m sorry but unless this government get a grip on this then no amount of increase in tax will make this country better.

At the moment, nothing.

BIossomtoes · 28/10/2024 18:33

ScreamNow · 28/10/2024 18:31

@BIossomtos Why would they throw away their documents, or choose not to stop in the first safe country? The journey to the U.K. is long, and entire Europe isn’t war-torn. So what’s really motivating them to make this trek. It's definitely not good weather...

It’s not the generosity of what they receive either. Family ties? The majority of asylum seekers are from Afghanistan and, given the way this country shat on them, we owe them.

cardibach · 28/10/2024 18:33

Itsmyopinion · 28/10/2024 18:20

What are labour doing about illegal immigration - this is costing the tax payer millions per day. For me this is why the country is on its knee’s. I’m sorry but unless this government get a grip on this then no amount of increase in tax will make this country better.

I don’t think you mean illegal immigration. Illegal immigrants don’t tend to cost anything as they don’t get anything at all - they’re illegal so can’t come in contact with the authorities in any way.
I suspect you mean asylum seekers - they are costing so much because the Tories basically stopped assessing claims so the numbers built up, in hotels being paid for by us because state facilities were full. Maybe think about who that might have benefitted (clue: it’s not the asylum seekers).

EasternStandard · 28/10/2024 18:32

Itsmyopinion · 28/10/2024 18:20

What are labour doing about illegal immigration - this is costing the tax payer millions per day. For me this is why the country is on its knee’s. I’m sorry but unless this government get a grip on this then no amount of increase in tax will make this country better.

Currently nothing, bar seeing the crossing and fatality rate increase in the channel

Smoothopera · 28/10/2024 18:31

EasternStandard · 28/10/2024 18:23

This is bizarre, you're better off not pushing people off than this

Bizarre? Righto but only if you’re wealthy yourself I guess.

ScreamNow · 28/10/2024 18:31

@BIossomtos Why would they throw away their documents, or choose not to stop in the first safe country? The journey to the U.K. is long, and entire Europe isn’t war-torn. So what’s really motivating them to make this trek. It's definitely not good weather...

Smoothopera · 28/10/2024 18:29

StarDolphins · 28/10/2024 18:28

Absolutely this!

Tories had 14 years. Labour 4 months or so. You’re not serious are you ? Any fool knows the absolute mess they left us in will take longer than a few months to remedy.

StarDolphins · 28/10/2024 18:29

Startingagainandagain · 28/10/2024 18:19

I voted Labour and so far I am not impressed.

They have managed to:

  • go for pensioners
  • scare vulnerable, disabled people who now fear they will lose the little money they get from the state
  • fail to keep the bus fare £2 cap (although buses are more likely to be used by the lower paid and are a lifeline for people in rural areas)
  • leave small business with the real possibility of having to make some of their staff redundant, or at least put a freeze on pay rises, if the budget increases their national insurance contribution.

Meanwhile they:

  • are still allowing utility companies to fleece us
  • have failed to announce any measure to make big corporate companies and wealthy individuals pay their fair share of tax
  • have failed to look at reforming MPs' expenses so that they are not getting all their bills and housing subsidised by the taxpayer while the average worker struggles
  • are watering down their long awaited reform to workers' right
  • agreed public sector pay rises that we can't even afford.

Basically I did not vote to get the Tories 2.0 in power.

Blaming the Tories for everything is also getting really old as an excuse.

If Labour wanted to do what's best for the country they would also accept that we can't afford to prop up foreign aid and the war in Ukraine endlessly while we have people in this country who don't have money to eat proper meals and keep warm.

Do better Starmer.

Edited

Absolutely this too.

IKEAJesus · 28/10/2024 18:29

Smoothopera · 28/10/2024 18:26

So no 90 day rule ? (that applies to us plebs only obvs). So a Tory Brexit consigns vast majority of the UK to the UK, whilst high earners can flounce off whenever ? Great.

Well, it’s the same as people are allowed to come to the UK to work if they have skills the country wants and / or an employer sponsoring them, but if you want to come on holiday, or move just because, there’s a limit.

GhosterPoster · 28/10/2024 18:28

Smoothopera · 28/10/2024 18:26

So no 90 day rule ? (that applies to us plebs only obvs). So a Tory Brexit consigns vast majority of the UK to the UK, whilst high earners can flounce off whenever ? Great.

Erm… yes. Surely this isn’t news to you? High earners are wanted everywhere.

People who are not net contributors are not.

BIossomtoes · 28/10/2024 18:28

ScreamNow · 28/10/2024 18:25

@BIossomtoes But do they even want to work? Many discard their documents before arriving, making it difficult to identify them. How can we expect to integrate people into the workforce if we can’t verify who they are?

Why wouldn’t they want to work?

StarDolphins · 28/10/2024 18:28

Itsmyopinion · 28/10/2024 18:20

What are labour doing about illegal immigration - this is costing the tax payer millions per day. For me this is why the country is on its knee’s. I’m sorry but unless this government get a grip on this then no amount of increase in tax will make this country better.

Absolutely this!

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